Current Use by Public Records
- Day care centers
Property Details for 2016 Middleton Farm Dr
- Year built
- 2022
- Lot size
- 1.19 lot acres
- Property type
- Day care centers
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a 10,000-square-foot, single-tenant, net-leased daycare center in Belmont, North Carolina. Located at 2016 Middleton Farm Dr, 28012, this property boasts a strong 7.00% cap rate and a substantial $335,000 annual net operating income (NOI). The Learning Experience, a rapidly expanding national franchise with over 600 centers open or under development, occupies the entire building under a 15.3-year lease (13 years remaining) with a corporate guarantee. Built in 2022, this modern, 10,000-square-foot facility sits on a 1.19-acre lot. The lease includes 10% rent bumps every five years and two, five-year renewal options, ensuring long-term income stability. The property benefits from its strategic location near South Point High School and the new Belmont Middle School, serving a growing population with high household incomes exceeding $124,000 within a one-mile radius. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity with significant potential for future growth. The asking price is $4,786,000, translating to $478.60 per square foot. This is a 1-story building with 100% occupancy. The property is situated in a rapidly developing area of the Charlotte MSA, with population and household projections indicating an 11% increase by 2028.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belmont
- County
- Gaston
- State
- North Carolina
- Longitude
- -81.038
- Latitude
- 35.2216
